The Cost of Living of in Melbourne
The Type of Costs You Can Expect Living in Melbourne
Moving to a new city requires a lot of organisation and adjustment. When you’re moving to Melbourne, it’s a good idea to find out about the cost of living. This will allow you to budget accordingly and work what you can afford in your new home.
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Finding housing in Melbourne
The cost of living in Melbourne in terms of renting or buying will differ depending on where you live.
- Buying a house in Melbourne could cost anywhere from $300,000 to $5,000,000, depending on the area you choose.
- The further you are away from the CBD, the cheaper housing will be.
If you’re renting, you’ll find that the cost of living varies as well, and will depend on the area you are living in and the size of your home.
- On average, rent will cost between $250 and $1,000 per week.
- You’ll find that older homes are usually cheaper to rent than newly-built homes.
Living in the South East
The south-east area of Melbourne is the more expensive area to live in. The beach suburbs and appealing lifestyle have driven the prices up, making it harder to afford homes here. You will find some cheaper suburbs but you may have to live further out to be able to afford the home you want.
Living in the North West
In the north-west of Melbourne you’ll find much cheaper housing. You can easily find places closer to the city that are still within your price range, whether that’s an apartment or a house. While there is less infrastructure in these areas, it’s definitely easier to afford a home.
Living in the Inner City
The inner city area of Melbourne is the most expensive. You can expect high prices here for small houses or apartments. Buildings are packed in tightly together so there isn’t always a lot of privacy. You will have the advantage of being close to everything Melbourne has to offer though.
Public transport in Melbourne will also affect your cost of living. Thankfully, public transport in Melbourne is very easy to use, and will save you both time and money.
- If you’re going to be travelling regularly, a 7-day Myki pass will only cost you $44 and will allow you to use any form of public transport—trams, trains, and buses.
- You can also get 28 to 365 day passes that will cost $5.30 per day.
For less frequent travel you, can tap on and off whenever you like. The fare for one day to go between Zones 1 and 2 is $8.80, or less if you have a concession card.
You’ll also find that the trams in the inner-city zone are free to use. This will save you money if you’re planning on working in the city.
The prices of fuel in Melbourne change on a regular basis. However, you’ll find that the general cost of petrol is cheaper that other regional areas.
- On average, fuel will cost around $1.44 per litre. You will get some days where this price is much lower, and other days when it is much higher.
- The closer in you get to the CBD, the cheaper the fuel prices will be as well. This means your cost of living in Melbourne will depend a lot on where you live.
Food and groceries
Your Melbourne cost of living will need to factor in food expenses. You will find that food is relatively affordable, helping to lower the general cost of living. For example, you can buy:
- 1 litre of milk for around $1.28
- A dozen eggs for $5.55
- 1 kg of apples for $4.34
If you buy a basic lunch on your work day will cost you around $17, while lunch at a fast-food chain will likely cost you around $11. You will also find upscale restaurants if you’re looking for a fancier meal, where dinner will cost you upwards of $100. Melbourne is one of Australia’s biggest hubs for food, you can find any meal to suit your budget here in Melbourne.
If you plan on living in Melbourne, you probably know that weather can be unpredictable. This means you need to be prepared for extreme heat and extreme cold.
- The cost of heating, electricity, and gas utilities for two people over a month is around $214.
- You will also need to pay for water, which will be generally be around $30 to $100 per quarter.
- Internet will cost around $60 and $80 a month, depending on whether you are paying for basic ADSL or NBN.
Using all these utilities can be expensive, so you’ll need to budget so your cost of living in Melbourne is not too high.
Melbourne has a thriving arts scene, so you may want to factor entertainment into cost of living in Melbourne. For example, if you’re interested in a night out, you will find that drinks cost between $5 and $20 on average.
Movie tickets in Melbourne generally cost between $10 and $25 per ticket, depending on the discounts you can get through internet provider or insurance company.
AFL is also popular in Melbourne and you will be able to attend several games throughout the year. These tickets generally cost between $29 and $160.
- Food: $50 – $200 per week
- Housing: $250 – $1,000 per week
- Entertainment: $10 – $200 per week
- Utilities: $50 – $100 per week
- Fuel: $15 – $80 per week
- Public Transport: $8.80 – $44 per week
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